UBS Group Begins Coverage on JOYY (NASDAQ:JOYY)

Key Points

• UBS initiated coverage on JOYY with a Buy rating and an $80 price target, implying roughly a 33.8% upside from current levels.
• Consensus among analysts is a Moderate Buy with a $74.67 target, but recent notes are mixed—Citigroup raised its PT to $78 while Zacks and Wall Street Zen have downgraded to Hold.
• JOYY trades near $59.80 with a $3.07B market cap and a very low PE ratio of 1.85; it reported $0.07 EPS and an 83.18% net margin last quarter, and institutional ownership is about 36.8% with notable inflows (e.g., SG Americas).

Equities researchers at UBS Group started coverage on shares of JOYY (NASDAQ:JOYY - Get Free Report) in a research report issued to clients and investors on Wednesday. The firm set a "buy" rating and a $80.00 price target on the stock. UBS Group's price target suggests a potential upside of 33.78% from the stock's current price.

A number of other analysts also recently weighed in on JOYY. Citigroup upped their price target on shares of JOYY from $70.00 to $78.00 and gave the stock a "buy" rating in a report on Tuesday, January 13th. Zacks Research downgraded shares of JOYY from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 16th. Weiss Ratings restated a "hold (c-)" rating on shares of JOYY in a research note on Thursday, January 22nd. Wall Street Zen downgraded JOYY from a "buy" rating to a "hold" rating in a report on Saturday, December 20th. Finally, Morgan Stanley set a $66.00 price target on JOYY in a research note on Monday, November 24th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.67.

JOYY Stock Down 0.9%

JOYY stock opened at $59.80 on Wednesday. JOYY has a 52 week low of $37.53 and a 52 week high of $70.96. The business has a 50-day simple moving average of $64.50 and a 200 day simple moving average of $62.08. The company has a market cap of $3.07 billion, a PE ratio of 1.85 and a beta of 0.36.

JOYY (NASDAQ:JOYY - Get Free Report) last announced its quarterly earnings data on Wednesday, March 11th. The company reported $0.07 earnings per share (EPS) for the quarter. JOYY had a net margin of 83.18% and a return on equity of 4.67%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of JOYY in the 3rd quarter valued at $1,189,000. China Universal Asset Management Co. Ltd. bought a new stake in JOYY during the 3rd quarter worth $715,000. SBI Securities Co. Ltd. acquired a new position in JOYY in the 3rd quarter worth about $27,000. Handelsbanken Fonder AB acquired a new position in JOYY in the 3rd quarter worth about $451,000. Finally, SG Americas Securities LLC raised its position in JOYY by 1,336.8% in the fourth quarter. SG Americas Securities LLC now owns 75,015 shares of the company's stock valued at $4,858,000 after purchasing an additional 69,794 shares during the last quarter. 36.83% of the stock is currently owned by institutional investors and hedge funds.

JOYY Company Profile

JOYY Inc NASDAQ: JOYY is a China-based technology company that develops and operates social media and live-streaming platforms. The company's core business centers on real-time interactive video services and short-form social content, enabling users to create, share and monetize live and recorded audio-visual content. JOYY's platforms are designed to connect creators and viewers through features such as live chat, virtual gifting and subscription-based interactions.

Products and services provided by JOYY include consumer-facing mobile and web applications that support live entertainment, social networking and short-form video consumption.

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